Online Encyclopedia

TAXATION

Online Encyclopedia
Originally appearing in Volume V02, Page 780 of the 1911 Encyclopedia Britannica.
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TAXATION and VALUATION). It iS alSO applied to the amount of damages fixed by a jury in a court of law (see DAMAGES). An assessment committee is a statutory committee appointed under the Union Assessment Acts 1862, 188o, for the purpose of making out the valuation lists upon which the poor-law rate is based. An assessment policy, in life insurance, is a policy issued at a fixed premium, the excess of which over the portion necessary to meet current claims and expenses goes to form a reserve fund which is devoted to various forms of benefit for the policy- holders. See INSURANCE and FRIENDLY SOCIETIES.
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